Intel recently received €515.55 million from the EU as default interest related to an overturned antitrust case. Initially fined €1.06 billion in 2009 for anti-competitive practices, Intel successfully appealed the fine. The EU Court of Justice upheld this judgment in October 2022, requiring the EU to pay this amount to Intel. Despite this positive financial windfall, Intel continues to face challenges, posting significant losses and a revenue decline amid a difficult year for the semiconductor industry.
The payment relates to a cheeky demand from the chipmaker for €593 million ($623.5 million) in interest on that billion-euro penalty as damages following the reversal of the antitrust fine in 2022.
According to reports, the EU's new antitrust chief, Teresa Ribera, who took over from Margrethe Vestager in December, informed a member of the European Parliament about the payment in a written statement.
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